Pensions - Articles - Social Care funding must not remain geographical lottery


Following today’s publication from the Institute for Fiscal Studies on English Council funding which highlights the rising demand for adult social care on local authority budgets, Steven Cameron, Pensions Director at Aegon comments:

 “When the Government eventually gets round to publishing proposals for a stable and sustainable way of sharing social care costs between the state and individuals, it must tackle geographical differences in demand for social care. To ensure consistent supply of good quality care across the country, local councils will need funding support which reflects the proportion of elderly in their region so we can end the current geographical lottery.

 “There are dramatic differences in age profiles between regions, with cities tending to have a younger age demographic than rural areas. In Dorset, for example, 13% of the population are aged 75 and over which compares to just 5% in the London region*. While younger age groups place different demands on local councils, the projected rocketing demand for social care driven by our ageing population will create huge funding pressures. The imperative of offering everyone good quality care and dignity in later life, wherever they happen to live, is not something central Government can duck and leave to local council funding.”

 
 *Source: ONS, Estimates of the population for the UK, mid-2017 population estimates
 

Back to Index


Similar News to this Story

TPRs oversight of largest DC schemes is evolving
Master trusts, some of the UK’s biggest defined contribution (DC) schemes, will be supervised differently to identify market and saver risks sooner an
Pension disengagement may cost you GBP500k in retirement
Failing to actively engage with pensions during one’s working life could have a staggering financial impact, according to a new report from PensionBee
Ongoing confusion over IHT proposals and pension priorities
Sacker & Partners LLP (Sackers), the UK’s leading specialist law firm for pensions and retirement savings, today announced the results of their most r

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.